London Stock Exchange today welcomed Golden Lane Housing to ORB
London Stock Exchange today welcomed Stephen McHale and Daymien Todd, who have a learning disability and are tenants of national charity Golden Lane Housing, to open its UK Markets. This marks the first charity bond to be listed on the London Stock Exchange’s Order Book for Retail Bonds through the recently launched Retail Charity Bonds platform.
Established by Mencap in 1998, Golden Lane Housing provides tailored housing for people with a learning disability across England and Wales. The Golden Lane Housing Retail Charity Bond successfully raised £11m in an over subscribed offering.
The proceeds will be used to buy and specially adapt the much needed accommodation for over 100 people with a learning disability in their communities supported by Mencap.
Alastair Graham, Director of Golden Lane Housing said:
"This bond has been a huge success for Golden Lane Housing. We are thrilled to be the first charity bond to be listed on the London Stock Exchange. This is an innovative new way of securing private finance to deliver social impact. The combination of financial return and doing social good proved to be very attractive to investors and we were pleased the bond issue had to be closed early to avoid being over-subscribed.
"Now the bond has officially been listed we will be able to start working on housing around a hundred people with a learning disability, who are currently living in inadequate housing due to the housing shortage. This will also provide a lasting legacy for future generations of people with a learning disability.”